Italy again interesting for investors
Italy has been back on the radar of global investors for some time now. At least since the maxi Next Generation EU aid plan – of which Rome is the largest beneficiary in Europe – and the arrival of Mario Draghi at the helm of the country have created the conditions for imagining a different trajectory from that of stagnation and decline to which many observers seemed to have condemned it without appeal. The surprising growth achieved in the last two years, 6.7% in 2021, 3.9% this year, according to Istat, despite the impact of the energy crisis – well beyond the increase in GDP achieved by Germany, 2.6% and 1.6% respectively – is catching the attention of quite a few analysts. And now that the rate hike, after having overwhelmed the bond markets, has brought value back to the bonds, even the BTPs are more attractive in the eyes of many large investors.
On the other hand, Italy is the fourth most represented country in the baskets of global government bonds, after the United States, Japan and France: our treasuries alone are worth 6.4% of this universe.
Read also:
– How much do BTPs yield from one to 30 years: all the tables
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